Bank of Queensland Savings Accounts

Bank of Queensland has its roots in the building society industry. It started out in 1874 as ‘Brisbane Permanent Benefit Building and Investment Society’ and was quick to transform itself into a modest sized bank. Following a series of mergers with other financial institutions in Queensland, it became a full-fledged trading bank in 1942.

The current name of Bank of Queensland was adopted in 1970, also the year in which the trading operations of the bank were fully computerized. A subsequent acquisition in 1982 of the Queensland Savings Bank Ltd. added the retail arm of the bank.

Today the Bank of Queensland is more than 100 years old and one of the most established banking names in the country, with over 270 branches serving over 650 000 customers in different states and territories. From its early beginnings the bank has grown to become one of the oldest and most respected financial institution on the Australian market.Bank of Queensland Savings Accounts are hence part of a great legacy, and true to its name provide some of the best savings options in Queensland. The following discussion will highlight the different types ofSavings Accounts currently offered by the bank and their various features.

The WebSavings account features zero maintenance fees and allows easier cash management options. You can transact on your account online, over the phone, as well as in person at a branch. This is a great option for small savings requirements as it has no fees and charges for account management via the web. There is no limitation on your transactions and you are free to pay bills or add funds to your account through the online banking portal. With interest calculated daily and paid monthly, this account not only offers a convenient way to manage your funds but also let them accumulate into the future. This has seen the WebSavings Account become one of the most sought after in the country.

This account has an additional feature of providing bonus interest on your savings, as long as you can restrict yourself to a maximum of one withdrawal per month. While restricted in the frequency of your withdrawals, the account still allows for easy access with online, over the phone and in person account management possible. There is a minimum balance requirement however, unlike the WebSavings account and a minimum withdrawal limit of $100 also applies.

If your the type of person who can control your spending habits and is looking to earn great interest on your hard earned savings then this account may be right for you. With interest calculated daily and no additional fees, this account truly is the smarter way to save for those who can keep their withdrawals to a minimum. Take advantage of the bonus interest this account offers and reach your savings goal faster.

The BOQ cash management account offers the convenience of an everyday transaction account while also earning high interest on balances over $20,000. Offering all of the access options of regular transaction accounts, this account is not only a convenient way to bank but also a great investment. With the cash management account, customers can take advantage of great interest rates but not be penalised for withdrawals. Customers are given the peace of mind of accessing their balance when they need it, combining the best features of a transaction account and high interest savings account. While many other high interest accounts will place great restriction on access to funds, the cash management account is an ideal way to invest without the unwanted stress.

The minimum balance requirement of $20,000 sees this account more suited to high-income earners. Despite this, account holders with balances of $5,000 will still enjoy no monthly fees and the ease of access provided for everyday transaction accounts.

The Premier Investment Account is the Bank of Queensland term deposit account enabling customers to earn from competitive interest rates while keeping their funds secure for a fixed term. With a low minimum investment of just $1,000 and terms ranging from 28 days to 5 years, this term deposit account tailored to suit the financial needs of a variety of customers. In addition, any interest earned will automatically roll over at the end of the investment term unless other instructions are given .

As you can see, there are plenty of options when it comes to managing your savings with the Bank of Queensland. With so many flexible options available pick a type of account which fits your needs the best, and enjoy the savings and comfort of banking with one of the most prestigious financial institutions of the country.

Related Resources

• Bank of Queensland Term Deposit
  Start a Bank of Queensland term deposit account for as little as $1 000. Take advantage of the competitive features on offer including the chance to receive 3.20% interest p.a.

Related Posts

• Bank of Queensland Reverse Charges Transaction Account
  You’ve probably never heard of a fee-free bank account that actually pays you to use it. However, such a one does exist in the Bank of Queensland Reverse Charges Transaction Account. There are some conditions which must be met. Read on for the full low down!
• Bank of Queensland Business WebSavings Account
  A Business WebSavings Account from BOQ Bank offers your business an account that pays a high rate of interest so it can benefit from great investment returns.